Marks bypasses charters to buy entire Ganassi NASCAR team
Immediately after the bombshell announcement that Justin Marks had purchased Chip Ganassi's NASCAR team, the outgoing owner took the soon-to-be new boss back to the shop to address a room full of anxious employees. The work begins next week for the co-owner of Trackhouse Racing, who struggled to find a charter for the team's first year of competition and balked at paying the escalating costs of NASCAR's equivalent of a franchise. Kaulig Racing last month bought a pair of charters for what the industry believes to be at least $10 million apiece, and after crunching the numbers, Marks just couldn't justify the spend.news.yahoo.com
The Latest: McDowell wins Daytona 500, 1st career victory
Denny Hamlin wins the first stage during the NASCAR Daytona 500 auto race at Daytona International Speedway, Sunday, Feb. 14, 2021, in Daytona Beach, Fla. (AP Photo/John Raoux)DAYTONA BEACH, Fla. – The Latest on the Daytona 500 (all times local):12:15 a.m.Michael McDowell won the Daytona 500 after Penske Racing teammates Joey Logano and Brad Keselowski wrecked on the final lap. Wallace became the Black driver to lead a lap in Daytona 500. Cope zipped past Earnhardt, who blew a tire with a mile to go, to win the 1990 Daytona 500. ___2 p.m.Bubba Wallace’s car failed inspection twice for the Daytona 500 and will have to start at the back of the field. Wallace drives a new entry owned by NBA great Michael Jordan and three-time Daytona 500 winner Denny Hamlin.
Mr. WorldWide to NASCAR: Pitbull joins Trackhouse ownership
New NASCAR team Trackhouse Racing has brought entertainer Pitbull on as an ownership partner for an organization making its debut next month at the Daytona 500. Mr. Worldwide joins NBA Hall of Famer Michael Jordan as celebrity owners entering NASCAR this year. Pitbull has become an ownership partner in new NASCAR team Trackhouse Racing, set to make its debut next month at the Daytona 500. “NASCAR racing is about pushing boundaries; for the Trackhouse Racing team, that means more than just winning on the race track,” Marks said. “Pitbull is an iconic talent in the music industry and has tremendous passion for NASCAR racing.
NASCAR claims victory in finishing season during pandemic
(AP Photo/Jason Minto, File)AVONDALE, Ariz. – NASCAR will take the checkered flag on its season, one of the longest in professional sports, celebrating its ability to work through the pandemic and close its year. The season was suspended March 13 after just four of 36 races had been completed. Nobody makes any money unless NASCAR runs its races and the sport was desperate to get back to work. When the Cup champion is crowned at Phoenix Raceway, all three of NASCAR's national series will have completed their full season. “What we have done during this global pandemic is I think nothing short of remarkable,” Phelps added.
NASCAR's upcoming economic model spurs interest in new teams
Without that charter, Marks had almost no chance to get his team on track in 2021. As NASCAR plans for the 2022 cost-cutting introduction of the “NextGen” new car, the demand for charters has soared. Denny Hamlin has also entered team ownership and explored several charter opportunities before he and Michael Jordan last month bought out Germain Racing. Hamlin, as Spire had done two years ago, studied the economics of NASCAR’s planned new car and determined team ownership will be more affordable in 2022. The NextGen car was supposed to debut next season but has been delayed a year by the pandemic.